Cost Of A Stamp Goes Up

The price of a first-class stamp climbed to 44 cents, the third straight year rates have gone up. The Postal Service lost $2.8 billion last year and is already $2.3 billion in the hole just halfway through this year.

By: Jamie Burch | WKRG-TV
Published: May 11, 2009

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WASHINGTON (AP) - The post office wants two more pennies for
your thoughts.
The price of a first-class stamp climbed to 44 cents today,
though folks who planned ahead and stocked up on Forever stamps
will still be paying the lower rate.
It's the third straight year rates have gone up in May. The new
system allows annual increases as long as they don't exceed the
rate of inflation for the year before.
The post office, which does not get a taxpayer subsidy for its
operations, continues to struggle financially. The Postal Service
lost $2.8 billion last year and is already $2.3 billion in the hole
just halfway through this year.
Postmaster General John Potter has asked Congress for permission
to reduce mail delivery to five days a week. The agency is also
taking numerous other cost-cutting measures.

(Copyright 2009 by The Associated Press. All Rights Reserved.)